TRADING SYMBOL: TSX - ML
VANCOUVER, Aug. 12 /CNW/ - Mercator Minerals Ltd. ("Mercator") is pleased
to report it is on track for start up of the Mineral Park Moly/copper mill
expansion in Arizona. Mineral Park will commence commissioning activities in
September with mill start up projected for October. The following are some of
the key milestones achieved to date:
- Both Ball mills for the first stage construction to 25,000 tons per
day have been received and have been set in the bearings with
mechanical alignment well under way;
- The SAG mill for the first stage of the expansion has been set in the
bearings and mechanical alignment nearly complete with liners
scheduled to be installed in the next couple of weeks;
- The crusher frame has been installed with bearing and shaft work well
- The mechanical work on the coarse ore stock pile stacker has been
completed with the electrical work well underway and nearing
- The mechanical work on the reclaim tunnel is complete with electrical
work expected to be completed later this month;
- Mechanical on the Concentrate thickeners is complete;
- Rougher flotation cells are complete and being wired;
- Copper cleaner cells are installed and motor wiring is nearly
- Moly floatation cells are installed and electrical underway;
- All the lime and reagent tanks are complete and set;
- The concentrate building is complete with overhead cranes fully
- The new 69kv power line and site distribution are nearing completion
and are scheduled for commissioning in September;
- The upgraded water system is complete and scheduled for commissioning
during the third week of September;
- The tailings dam raise has been completed with piping is well
- All of the tailings drop boxes and the reclaim barge are complete.
"There are over 400 workers on the Mineral Park Moly/copper mill
expansion working around the clock 7 days a week on our 50,000 ton per day
mill expansion," said Mike Surratt President and CEO of Mercator Minerals. "We
have received almost all of the major equipment and what we don't have we will
have when we need it. All our contractors and our own crews are putting in a
great effort and we look forward to starting up what will be the next major
Moly/Copper operation in North America," said Surratt.
Mercator Minerals Ltd.
Mercator is a copper producer that owns and operates the Mineral Park
copper/molybdenum mine in Arizona, with a corporate strategy focused on
maximizing the production potential of the Mineral Park copper-molybdenum
deposit and growing through mergers and acquisitions. Mercator is in an
advanced stage of construction of the molybdenum-copper expansion at Mineral
Park. At full capacity, the Mineral Park mine average annual production during
the first 10 years is forecast to be approximately 56.4 million pounds of
copper, 10.3 million pounds of molybdenum and 0.6 million ounces of silver.
On Behalf of the Board of Directors
MERCATOR MINERALS LTD.
Per: "Michael L. Surratt"
Michael L. Surratt,
This press release contains certain forward-looking statements, which
include estimates, forecasts, and statements as to management's expectations
with respect to, among other things, the size and quality of the Company's
mineral reserves and mineral resources, future production, capital and mine
production costs, demand and market outlook for commodities, and the financial
results of the Company. These forward-looking statements involve numerous
assumptions, risks and uncertainties and actual results may vary.
Factors that may cause actual results to vary include, but are not
limited to, changes in commodity and power prices, changes in interest and
currency exchange rates, inaccurate geological and metallurgical assumptions
(including with respect to the size, grade and recoverability of mineral
reserves and resources), unanticipated operational difficulties (including
failure of plant, equipment or processes to operate in accordance with
specifications, cost escalation, unavailability of materials and equipment,
delays in the receipt of government approvals, industrial disturbances or
other job action, and unanticipated events related to health, safety and
environmental matters), political risk, social unrest, and changes in general
economic conditions or conditions in the financial markets. These risks are
described in more detail in the Annual Information Form of the Company. The
Company does not assume the obligation to revise or update these
forward-looking statements after the date of this report or to revise them to
reflect the occurrence of future unanticipated events, except as may be
required under applicable securities laws.
For a more complete discussion, please refer to the Company's audited
financial statements and MD&A for the year ended December 31, 2007 on the
SEDAR website at www.sedar.com.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this press release.
For further information:
For further information: Marc LeBlanc, VP Corporate Development and
Corporate Secretary, Tel: (604) 981-9661 or (604) 716-5582; Fax: (604)
960-9661; Email: firstname.lastname@example.org